Basic needs are defined as goods or services that are essential for human to live and function. Wants on the other hand, are goods or services that are not necessary but we desire or wish for in order to fulfil our needs. In university, students' needs and wants are not always easily detectable due to different generations of students. The students' desires are also caused by peer interactions, course needs and cultural differences. For example older generations requires typewriter but new generations need a laptop. Many university students have difficulty to differentiate between basic needs and wants. This leads to financial management problem which can affect their academic performance. The purpose of this study is to identify students of Universiti Utara Malaysia (UUM) basic needs. Based on past studies conducted by 3 universities, 12 items related to students' basic needs were identified. However, only 9 items are considered relevant to UUM students. A study on a focus group consist of 18 students from different background was conducted to validate the 9 items of basic needs by using in depth interviews. The findings indicated food, clothing, books, stationery, photocopying, printing & binding, information & communication technology (ICT), mobile phone bills, transportation and others (which includes toiletries, groceries, sport, & entertainment) as the 9 items. The findings also revealed that student basic needs for ICT are not only laptop and printer but also a smartphone. As for clothing, requirements are different according to programs the student majors in. A business student need full business attire, law students need a proper robe for moot courts and curriculum activities require the students to be in uniform. These are basic needs and not desires or wants.